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20121112
20121112
Search Results 0 to 8 of about 9 (some duplicates have been removed)
to tackle the impending fiscal cliff but the president and the speaker of the house john boehner each drawing lines that they say they will not cross. the major hurdles, that threat to send the economy into a tailspin, that's coming up next. >>> plus a nascar race turning into a full-scale brawl. look at this. mayhem breaking out of the everybody going at it. we'll tell you what set it off. after this. ve lately. but because of business people like you, things are beginning to get rolling. and regions is here to help. making it easier with the expertise and service to keep those wheels turning. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. jenna: well come back, everyone. now let's return to the economy. the president and house speaker john boehner are suggesting they are willing to compromise to prevent our economy from going over that so-called fiscal cliff but both sides are digging in their heels whether or not to race tax rates for the wealthy. rich edson of the fox business network watching
seem to be moving closer to a key sticking point. >> speaker boehner seemed to suggest that he was open to closing loopholes, to real tax reform. can you get there by just closing loopholes, or will it take more than that? >> well, look, i don't want to prejudge the discussions. i think that the speaker's comments have been encouraging and there is obviously money to be gained by closing some of these, closing some of these loopholes and applying them to deficit reduction. there are a lot of ways to skin this cat. gregg: illinois congressman peter roskam joins us. he is on the house ways and means committee. he joins us from chicago. good to see you. house speaker boehner says he will oppose any increase in tax rates. and the white house said on friday, and i will read this directly, the president will veto any bill that includes an extension of the current tax rates for those earning more than $250,000 a year. so congressman, where is the come promize? >> i think the best predictor of future behavior is past behavior. we've heard this language coming from the white house before. we hea
of them is obamacare, as john boehner put it the other way, it's the law of the land. that means that businesses are going to be laying people off. that means that over eight million americans who are part time are going to continue to work part time until we see a real resurgence in this economy, certainly. because it's just not economical for the employer to move ahead. it's cheaper for them, in fact, to pay a $2,000 fine. imagine this, to pay $2,000 for an employee they didn't hire who they've hired and not put them on an employee-sponsored insurance plan. this is the exact reversefect of what we had, you know, been told would occur. but we should be used to that, because so much of the -- so many of the consequences have not been intended because they were never thought out by this congress, the previous congress. and we're looking at people saying it's partisanship. let me give you an example of why that's pure bull, shannon, many i fay. shannon: please do. >> one of the companies laying off people is a company called stryker, one of the medical device makers, one of the big
speaker boehner tell it, republicans have to swallow their pride and just stay in line, and tea party said they made him speaker and better watch how he is speaks. >>guest: why don't we all talk about rather that who getting in line and who is cooperating with who, what is the best thing for our country? wouldn't it be nice to have a leader in washington who said, wait, it is not about just working together for a show but what is best for our country, and, neil, there are very hard decisions to be made and i don't think we should compromise on things that are not good for all of us in america. >>neil: you may feel that way struckly and i have admired the fact you stick to your guns no matter the crosswind but the president is going to claim, elections have consequences and it was close, but i won, and i won despite this call for higher taxes, maybe because of it, and the rich have to deal. you say, what? >>guest: well, i say, first, just because you win an election, that doesn't noon you get to go off the rails and do what is not good for america because you have some weird agenda. two, ta
, it is not going to make a difference. john boehner needs to stand his ground. he needs to say we can bring in more revenue, reform the tax code but won't raise taxes on anyone at this time. if the republican party doesn't stand for something, then they may as well call themselves another set of democrats. charles: the republican party was deemed the party of no for the last couple of years, and i think it hurt them at the polls. do they have to compromise somewhere? >> they will likely have to compromise but where they shouldn't compromise is raising taxes. that's going to affect economic output. even cbo talks about another drop in economic output. our gdp growth -- charles: if they don't raise taxes, how do they do it? what does boehner mean by revenue? >> you have to cut out subsidies. along with that tax reform is necessary so companies can make more money, small businesses. if you make it so they can be better companies, bigger companies, hire more people, even a a part timer, you can't to increase economic output. >> articulate why that's not the solution. explain to people why raising taxes
Search Results 0 to 8 of about 9 (some duplicates have been removed)